Niocorp Developments Ltd (NB)

[tedro84]

The third party review stating no fatal flaws was a review of the technical engineering. It was not a review of the market forecast for any of the products. It essentially says that the chemical process should work as planned, that the initial (non-detailed) mine design is adequate, and that the geological reports are within the level of confidence indicated. It is purely an engineering review and has nothing to do with the finances of the project.

The fact that 13 engineers signed their names to the FS does not mean that each one of them reviewed all 898 pages. You can find the sections that each engineer was responsible for on page 29 of the FS.

Section 19.1.3 contains the pricing forecast for Scandium. Grant Malensek, MEng, Penf/PGeo is the only one to sign off on the pricing.